Congratulations! You’re a homeowner. Now that you have a place to call your own, you may be wondering how to pay down your mortgage a little bit faster.
According to a BMO 2015 home-buying report, the average Canadian expects to pay off their mortgage by age 59 — but 31 per cent think they’ll still have a mortgage by their 65th birthday. Looking to ditch your debt quicker — without over-extending your budget? It may save you hundreds (if not thousands) in the long run.